Stick to facts, 1MDB boss tells critics
More than a month has passed since he took over the reins with the promise to turnaround the ailing firm but the criticisms have not abated.
More than a month has passed since he took over the reins with the promise to turnaround the ailing firm but the criticisms have not abated.
Arul Kanda (below) , however, has no regrets accepting the position and remains confident of delivering.
Describing it as a learning experience, he said: "I am still confident as before, and more so now that we have outlined our strategic review of the business."
"I am here to do my job. I am a professional, and when I take up a role, I want to do my best," he told Malaysiakini following the unveiling of the strategic review today.
Acknowledging the right to criticise, the 1MDB president and group executive director admitted that he is frustrated when detractors assail the firm based on speculations as opposed to facts.
Therefore, he urged critics to engage him in constructive discussions on how to improve things.
Pointing out that critics have also been inconsistent in their claims, he said: "One erroneous fact is repeated several times to make it appear as the truth. The people should not rely on this."
"One day, there is this statement, and the next day, there is another which is diametrically different.
"We, on the other hand, have been consistent (in our explanations)," he added.
Arul also complained of how certain news organisations craft his responses in a manner that paints a negative picture, which in turn impacts his reputation.
The Ananda Krishnan link
Responding to a question, he also reiterated his earlier comments on the speculation that business tycoon Ananda Krishnan would be settling 1MDB’s RM2 billion debt.
He said this speculation has been floated without the concerned parties speaking about it.
"Unless the people involved speak about it, there is no point," he added, noting that there are some issues which cannot be commented on due to commercial and legal reasons.
Arul was also quizzed on PKR lawmaker Rafizi Ramli's (left) claim that talks between 1MDB and Ananda may have hit a brick wall, thus leading to Putrajaya stepping in to bailout the firm through a series of treasury bills amounting to RM2.1 billion issued by Bank Negara.
"In relation to all these speculations, all I can say is that every year, we produce detailed accounts which is publicly accessible.
"That is the right platform (for these questions to be answered). I hope that 1MDB would be given the same right like other private firms.
"We can reveal the details in that context and not outside of that platform," he added.
On the talk that 1MDB serves as Umno's cash cow, Arul replied: "They (critics) can go through the accounts, everything is signed off by international auditors. Every money is accounted for."
Arul also dispelled accusations that despite a change of guard, 1MDB continues to be shrouded in secrecy.
"Sometimes it is not for me to comment outside of the process. But in some of the questions raised, we provided answers such as the Cayman Islands registered fund. But critics still harp on it.
"Whenever we can answer, we do so. But it must be acknowledged that there are times when commercial and legal reasons prevent us from disclosing information," he added.
As for the strategic review, Arul pointed out that one of the key factors is that 1MDB would no longer venture into new projects.
"We have substantial assets, and it is big by any standard. We wish to maximise their value and not look beyond that," he said.
He argued that central to the criticisms concerning 1MDB is its debt, and since the firm would not be exploring new ventures, this meant that it would not incur additional liabilities.


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